Belarus: Chinese company to invest in Bank Moscow-Minsk

A Chinese company plans to invest its funds in the Bank Moscow-Minsk, manager for Belarus at DRex Food Group Zoya Kavaleva reported after the talks with Belarus Agriculture and Food Minister Leonid Zayats on June 12.

“We would like to invest in the bank. We want to buy a stake in the bank or some share in it,” said Zoya Kavaleva.

During the talks President of Xinrongji Holding Group Nian Yunan asked to convey an invitation to the leadership of the Bank Moscow-Minsk to visit China and get familiar with the work of the company. He stressed that the financial sector was of high importance for Chinese investors.

“We would like to set up two companies in Belarus. One of them will be an investing one. The company will invest in Belarus, including in the banking activity of your country,” he noted.

The Bank Moscow-Minsk is undergoing a pre-privatization period. The European Bank for Reconstruction and Development provides its support. The memorandum of understanding between the National Bank of Belarus and the European Bank for Reconstruction and Development on the privatization of the bank was signed on September 28, 2016. It is expected that the controlling interest in the bank will be sold to a strategic investor before January 1, 2020. (BelTA/Business World Magazine)